Emissions of greenhouse gases (GHG) from installations participating in the EU Emissions Trading System (EU ETS) decreased in 2012, but the surplus of emission allowances increased, the European Commission says. "The good news is that emissions declined again in 2012," says Connie Hedegaard, EU climate action commissioner. "The bad news is that the supply-demand imbalance has further worsened, in large part because of a record use of international credits. At the start of phase 3, we see a surplus of almost 2 billion allowances. These...